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“Our effort is pursuing renewable, sustainable loans,” RCBC’s chief risk officer, Juan Gabriel Tomas IV, told reporters on Tuesday, October 24. “ not really that big. It’s about 5% of the total loan portfolio.”“We were the first bank to declare we will no longer fund coal-fired power plants, and we aim to have zero participation in such projects by 2031,” RCBC President and Chief Executive Officer Eugene Acevedo said in a forum on Tuesday.any new coal energy projects.
RCBC’s chief sustainability officer, Armi Lamberte, told Rappler that the bank’s “sustainable portfolio” makes up about 13% of their total loan portfolio. This is more than twice the size of RCBC’s exposure to coal projects, and it’s also bigger than the 10% share of sustainable lending in 2020.